Press Release

TPG RE Finance Trust, Inc. Announces Tax Treatment of 2017 Dividends

Company Release - 1/29/2018 4:15 PM ET

NEW YORK--(BUSINESS WIRE)--
TPG RE Finance Trust, Inc. (NYSE: TRTX) (the “Company”) today announced
the tax treatment of its 2017 common stock dividends. The following
table summarizes, for tax purposes, the nature of cash dividends paid
with respect to TRTX’s common shares for the tax year ended December 31,
2017:

Common Stock (CUSIP # 87266M107)

Record

Payment

Total Distribution

Ordinary Income

Capital Gain

Non-Dividend

Date

Date

Per Share(3)

Per Share

Per Share

Distributions

12/23/2016 (1)

2/1/2017

$0.3657

$0.3572

$0.0085

$0.0000

3/31/2017

4/25/2017

$0.5425

$0.5298

$0.0127

$0.0000

6/30/2017

7/25/2017

$0.5100

$0.4981

$0.0119

$0.0000

10/6/2017

10/25/2017

$0.3300

$0.3223

$0.0077

$0.0000

12/29/2017 (2)

1/25/2018

$0.3800

$0.3711

$0.0089

$0.0000

(1)

A portion of the dividend declared on December 23, 2016 and paid on
February 1, 2017 is treated as a 2017 distribution for federal
income tax purposes and will be included on the 2017 Form 1099-DIV.

(2)

Pursuant to IRC Section 857(b)(9), cash distributions made on
January 25, 2018 with a record date of December 29, 2017 are treated
for federal income tax purposes as received by shareholders on
December 31, 2017 to the extent of the Company’s 2017 tax earnings
and profits.

(3)

A stock dividend of 1.235 per common share was declared for the
holders of record as of July 3, 2017, resulting in the issuance of
9,455,083 shares of common stock on July 25, 2017, in conjunction
with the closing of Company’s initial public offering (“IPO”) of
11,000,000 shares of common stock. On August 22, 2017 the Company
issued an additional 650,000 shares of common stock pursuant to the
underwriters’ execution of the overallotment option for the IPO.

Shareholders are encouraged to consult with their personal tax advisors
as to their specific tax treatment of the Company’s dividends. For
additional information, please refer to the Investor Relations section
of the Company’s website.

ABOUT TRTX

TPG RE Finance Trust, Inc. is a commercial real estate finance company
that focuses primarily on originating, acquiring, and managing first
mortgage loans and other commercial real estate‐related debt instruments
secured by high quality institutional properties located in primary and
select secondary markets in the United States. The Company is externally
managed by TPG RE Finance Trust Management, L.P., a part of TPG Real
Estate, which is the real estate investment platform of TPG Global, LLC
(“TPG”). TPG is a leading global alternative investment firm with a
25-year history and approximately $73 billion of assets under
management. For more information regarding TRTX, visit www.tpgrefinance.com.